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Excerpt from Practical Guidance

Expert Analysis

Tackling Employment Contract Issues In Bankruptcy

Law360, New York (March 30, 2015, 12:09 PM EDT) -- There are numerous issues to be taken into consideration regarding employment contracts in the context of a bankruptcy. It is fairly straightforward that if the debtor in possession becomes party to an employment agreement, the employee's claims for compensation and severance payable pursuant to the agreement are usually treated as administrative expense claims. The situation with respect to the priority of an employee's severance claim becomes murkier, however, where the debtor signs an employment agreement prepetition and the employee keeps working for the debtor during the pendency of the debtor's Chapter 11 case before ultimately being terminated....

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